Similar Documents

...Decision Making Process
Tara Wagner
MGT230
April 1, 2013
George DeMetropolis
I can honestly say that most of the decisions that I have made over the years have been
spur of the moment. I was never really that great at planning out any of my decisions that I
made. Most of the spur of the moment decision that I have made turned out to be the right
decisions at the time. One of my biggest decisions was joining the US Navy, which was a life
changing decision.
I did use most of the decision making process discussed in chapter 3 of the text book
except for the first step. Generating alternative solutions is the second step of the process which
involved me making two avenues to go down. One was joining the military and the second one
would have been community college for nursing. If I could not join the military my alternative
solution would have been community college.
The third step of the decision making process is evaluating alternatives. Evaluating
community college I would have had to take out student loans because I could not afford to pay
for my tuition. That would have put me in debt before I even really started my life and that is not
an avenue that I wanted to take. So I tried my hardest to qualify to enlist into the military if it
was the last thing I did.
The fourth step in the decision making process is to make the choice. The choice I...

...Decision-Making Case Study Paper
SantaMonia
HCS/514
Decision-Making Case Paper
Working within the medical field requires many changes. In order to be compliant
The information has to be up to date with rules, regulations and laws. Many health care field workers believe that this field is and can be very stressful. In the health care field the information that is obtained must be correct and can be looked up and verified. Coping and printing of information that is needed is an asset. When a health care board of directors makes a decision having proper reports and paper work available helps make the decision smoother.
In this case study we will look at the toolbox affects that go with accountability.
We will be able to see knowledge transfer, and how it goes along with questioning decisions for the organization. How will this improve revenue, patients and the productivity of the organization?
The Informed Decision Toolbox
In reading the informed decision toolbox in Rundall, (2007) it talked about a number of steps six to be exact. These steps are suppose to help when making hard decisions or difficult ones for the continued growth of the company.
This will help make decisions along with evidence-based information. Analyzing the statics of how many patients area being seen. What portion of the patients is Medicaid?
The first step: framing the management question
In this step you have to look at the information given as to what services will be cut......

...Decision-Making Process
"Life is filled with choices and decisions. Many of these are minor, but there are also times when we face difficult decisions. Good decision making is enormously important when we face significant decisions. It's also important to make good decisions all of the time" (Rich, Ed.D., MSW, DCSW, 1994-2012). In this paper it will identify a time in my life when I had to make a personal decision. The paper will also include the steps of my process, how my decision-making process is similar to the one in the text and how might my decision be different if I used the same steps in the text.
Almost two years ago I made the personal decision to go back to school. What led me to this decision were all the mornings I would wake up to go to work and not be happy and feeling like I am not living life but just existing. Another reason I choose to go back to school was because while I was at work I was asked to train two interns. I believe these two interns had just graduated from college and was training them to become my boss. That thought made me stop playing around and sign up for school. The steps I made to get back in school was simply getting on the internet to look at different schools. After a few weeks I choose University of Phoenix and being to schedule appointments to get the ball rolling. Shortly after that I was sitting in my first and almost a year and a half later I am half way finish with my degree.
In the text "The ideal decision-making......

...entrants. Considering that economies of scale in this particular industry are not really clear the threat of new entrants for LV is relatively low.
Rivalry among established firms
Competitive rivalry refers to the struggle between firms in the same industry in order to acquire greater market share (Hill and Jones, 2010). Based on the case study, the competition is very intense in this industry as LVMH’s primarily contends with Pinault-Printems-Redoute (Gucci and Yves Saint Laurent) and Compagnie Financiere Richemont (Cartier and Montblanc).
The rivalry between LV and its competitors is strong because the competitive structure of the industry includes similarly sized number of firms. Furthermore, there is no clear and dominant leader making it a fragmented industry, thus intensifying competition. Additionally, the demand and cost conditions tend to influence the intensity of rivalry and here they create a very strong competition. Also the height of exit barriers (leaving the industry) is high which prevents companies leaving the industry.
Bargaining power of buyers
The buyer power in this industry is comparatively low. Firstly, the switching costs for buyers or end-users are low which means they do not incur any additional costs if they were to switch to another seller (Gucci, Cartier, etc) or they can even purchase products from several companies at once. Secondly, the industry as a whole is dependent on buyers in a sense that they purchase a large percentage of......

...for their fundings.
Abstract Recent techniques and shifts in the environment are often foreseen as leading management accountants to adopt a business orientation. However, empirical evidence pointing to fundamental shifts in the roles played by management accountants remains relatively scarce. We explore this paradox and give sense to the various roles played by the management accounting function by focusing on how management accountants are involved in and endowed with authority in decision-making situations. Using data we gathered from 73 interviews in ten multinational companies, we identify four styles adopted by the management accounting function: the discrete, the safeguarding, the partner, and the omnipotent management accounting functions. We show that each style can be associated with a specific role: discrete control of managerial behaviour, socialisation of managers, facilitation of decision-making, and centralisation of power. Some of these roles—facilitating local decision-making or discretely controlling managerial behaviour, for instance—have been under discussion in the literature for many years now. Our detailed analysis of management accountants’ work reveals that these roles can be associated with both unexpected benefits, such as fostering creativity, and unforeseen drawbacks, such as drift in governance. Furthermore, our findings bring to light other, unexplored roles—centralising power or socialising managers, for example—providing us with a more......

...MULTI-CRITERIA DECISION ANALYSIS, VOL 5,
39-57
(1996)
Multi-Attribute Decision Support in the Event of a Nuclear Accident
SIMON FRENCH
School of Computer Studies, University of Leeds, Leeds LS2 9Jb U.K.
ABSTRACT Retrospective studies of nuclear accidents such as those at Three Mile Island and Chernobyl have emphasized the need for preparing structured decision support methodologies for use in any future emergency. This paper discusses the multi-attribute aspects of such decision support, i.e. methods for supporting decisions when there are several conflicting objectives. Considerable progress has been made in application of these methods over the past 4 or 5 years. In particular, the decision-conferencing format has proved successful in helping senior decision makers understand and deal with the issues that arise in considering long-term countermeasures made. Within the RODOS project, a European initiative to build a decision support system for emergency response, multi-attribute value and utility techniques for short-term and medium-term countermeasures are being developed. However, much remains to be done, particularly in relation to the incorporation of uncertainty when there is a risk of an imminent accident.
KEY WORDS:
Bayesian decision analysis; decision support for environmental emergencies; decision trees; multi-attribute resource allocation; multi-attribute utility analysis; multi-attribute value analysis; radiation protection decisions; RODOS
1.......

...Effective Decision Making
Abstract
Managers judge the effectiveness of decision in terms of quality, timeliness, acceptance, and ethical appropriateness. The decision-making process is improved though creative problem solving and brainstorming. They way managers frame problems significantly affect the outcome. The effectiveness of a decision depends on cognitive biases and organizational barriers. Effective leader communicate well and motivate others. Managers match a leadership style with a preferred style for the situation. They develop a range of leadership styles and adapt to different situations. Quality, timeliness, acceptance, and appropriateness are components of decision-making. Transformational leaders have vision that guides and motivates them to higher goals. They motivate other to a higher level. Super leaders go a step further by helping others realize and maximize their abilities. Charismatic leaders motivate followers to make significant changes.
Decision-Making Skills The effectiveness of a decision depends on factors such as the characteristics of the decision maker, various cognitive biases, and organizational barriers. In decision-making, managers vary in the amount or information, skills, or experience they have. They use different styles in making decision. Some focus on the details of a situation and compile them into a sensible decision. Others rely on their intuitive sense about a situation or focus on the “big picture.” Due to the complexity......

...Decision-making is the process of choosing one option among a variety of probable alternatives. The normative model of decision making, which means how decisions need to be made, is the skill that is needed when making a decision (Furby & Beyth-Marom, 1992). In fact, we make decisions in all matters of our personal life every day. However, some of us follow certain steps to avoid any future risk, others make decision spontaneously ignoring all the consequence. As a matter of fact, models, methodologies, and evaluating tools of decision-making were well explained by Professor Frear in the previous lecture.
Decisions can be categorized in two main categories, programmed decision and un-programmed decisions. Programmed decision is option that already selected for a certain situation. It is more like “IF-THEN” statement, when a specific condition is satisfied, a planned action will occur. On the other hand, the un-programmed decision is the result that comes from the analysis of gathered information for a unique situation, evaluating of list of the options, and choosing the best option among them.
Based of the un-programmed decision definition, the un-programmed decision requires a well-defined procedure to be made. This procedure or model must be clear and take the consideration all the parameters that may effects the resulted decision to avoid any missing that may lead to the failure. Therefore, the decision making model has been used by organizations and even individuals...

... DECISION-MAKING SYSTEMS
1. Explain the importance of decision making for managers at each of the three primary organisation levels, along with the associated decision characteristics.
* Meaning of decision making
* Decision making is a process of selecting the best among the different alternatives. It is the act of making a choice. There are so many alternatives found in the organization and departments. Decision making is defined as the selection of choice of one best alternative. Before making decisions all alternatives should be evaluated from which advantages and disadvantages are known. It helps to make the best decisions. It is also one of the important functions of management. Without other management functions such as planning, Organizing, directing, controlling, staffing can’t be conducted because in this managerial function decision is very important. According to Stephen P. Robbins, “decision making is defines as the selection of a preferred course of action from two or more alternatives.”
* Importance of decision making
* Implementation of managerial function: Without decision making different managerial function such as planning, organizing, directing, controlling, staffing can’t be conducted. In other words, when an employee does, s/he does the work through decision making function. Therefore, we can say that decision is important element to implement the managerial function.
* Pervasiveness of decision making: the decision is......

...Decision Making
Danielle Gomez
MGT/230
August 7, 2015
James Bailey
There comes many moments in everyone’s lives when you have to make some very important decisions. They may be little decisions or life changing decisions. Either way they will affect you somehow, so it is important to know the steps in the decision making process as well as considering the consequences of them.
Decision making is the process of making choices by setting goals, gathering information, and assessing alternative occupations ("Decision Making Process", n.d.). There are seven steps when you want effective decision making. The first step is to identify the decision that needs to be made. This is naturally the most important step of all. The second is to gather necessary information to help make this decision. Next is to identify alternatives and then weigh the evidence collected. Step five is to choose from your alternatives. The last two steps are to take action and review your decision and the consequences of making this decision. These steps are what makes the decision making process ("Decision Making Process", n.d.).
A personal experience where I have had to make a very important decision in my life was when I decided to continue my college education. It has always been my plan since high school to first attend beauty college and obtain my cosmetology license because that was one of my passions since I was a little girl. I knew that was what I wanted to do since I was young but I......

...OF
DECISION
MAKING
BY L E I G H B UC H A N A N A N D A N D R E W O ’ CO N N E L L
RANDY LYHUS
Humans have perpetually sought new tools and insights
to help them make decisions. From entrails to artiﬁcial
intelligence, what a long, strange trip it’s been.
SOMETIME IN THE MIDST OF THE LAST CENTURY, Chester Barnard,
a retired telephone executive and author of The Functions
of the Executive, imported the term “decision making”
from the lexicon of public administration into the business world. There it began to replace narrower descriptors such as “resource allocation” and “policy making.”
34 | Chances Are
The dicey history
of risk
36 | The Meeting
of Minds
The power and perils of
group decision making
38 | Thinking
Machines
The real intelligence
behind AI
40 | The Romance
of the Gut
The appeal of leaders
who just do it
The introduction of that phrase changed how
managers thought about what they did and
spurred a new crispness of action and desire for
conclusiveness, argues William Starbuck, professor in residence at the University of Oregon’s
Charles H. Lundquist College of Business.“Policy making could go on and on endlessly, and
there are always resources to be allocated,” he
explains.“‘Decision’ implies the end of deliberation and the beginning of action.”
So Barnard–and such later theorists as James
March, Herbert Simon, and Henry Mintzberg–
laid the foundation for the study of managerial
decision making. But decision......

...INTRODUCTION TO DECISION MAKING
Student`s Name
Institutional Affiliation
Introduction
Decision making, in simplest terms, is the process of making a choice between two or more courses of action. We may find it hard, at some point, to pick one course of action over another. But unfortunately, we must decide all the time. Some of us avoid making decisions by procrastinating, in the guise of looking for more information or recommendations from other parties. Decision making takes many forms; ranging from intuition to reasoning. Other people may employ crude methods such as tossing a coin or taking a vote. Taking intuition and reasoning methods culminates in either programmed or non-programmed decisions; strategic or operational decisions and rational or intuitive decisions (Rao, 2010).
Discussion.
Programmed vs unprogrammed decisions.
Where a manager makes decisions which he/she has made previously, those choices are referred to as “programmed decisions”. A programmed decision is taken over and over when a manager is faced with the same challenge since the course taken worked before. Such decisions are often guided by predetermined procedures, policies, calculations or data. With programmed decisions, a manager does not take long to conclude when confronted with a business-related involuntary decision since the test faced is not novel. Therefore, programmed decisions sanction a manager to make rationalized and dependably effective choices. For instance, one would......

...The Ethical Decision Making Method is guided by the Ethical Reasoning Process which sets the foundation for an individual to assess the decisions that are made. This Process follows four steps that helps guide someone to make the best decision possible. Using these four steps
Step 1: DEFINE THE PROBLEM
Step 2: KNOW THE RULES
Step 3: DEVELOP AND EVALUATE COURSES OF ACTION
Step 4: CHOOSE THE COURSE OF ACTION THAT BEST
REPRESENTS ARMY VALUES
|1. Defined the ethical problem. |
|2. Identified and accurately applied all relevant laws and regulations. |
|3. Identified all appropriate ethical values. |
|4. Determined all relevant guiding moral principles from the ethical values chosen. |
|5. Identified and accurately applied all other relevant moral principles to the ethical problem. |
|6. Chose a course of action which reflected sound judgment and a thorough analysis of steps one through five. |
|7. Selected the best method to implement their chosen course of action. |
|8. Implemented the course of action in accordance with a plan. |
|9. Assessed results and modified the plan as appropriate. ...

...Date- 21th May 2012
You have been assigned as a leader of a cross functional team of internal consultants to your CEO and the Board for your company.
Your company is faced with dwindling profit and constant chaos due to:
1. Intense competition from local competitors
2. New entrants from China/Vietnam with very low prices
3. Increasing inventory of great products which used to be fast moving
4. Lack of coordination with supply chain decisions and customer demand from CRM
5. Customers of least profit getting maximum attention and more profitable customers defecting
6. Sales Force placing unreasonable demands coupled with production interruption
7. Lack of integrated and coordinated planning and control
8. Cost based pricing creating havoc in the profits
9. Escalating support costs and huge growth in indirect costs and
10. Lack of motivation , poor performance on the part of senior management and attrition
Required:
Q-I) Write a report to strategically fix all these problems with clear execution and implementation steps so that the organization is managed effectively and efficiently for excellence and regains profitability and high morale.
You may also use all or most of the topics discussed and the 10 key takeaways.
Solution:
Leader of a cross functional team: A cross functional team is a team composed of more than three members from diverse functional entities working together towards a common goal. This team will have......